With 2013 wrapping up, year-end industry reports and next year projections are streaming in. According to recent surveys, 2014 is shaping up to be an excellent year for the HVACR industry. One ASHRAE/AHR Expo survey was sent to over 1,000 HVACR manufacturers around the world regarding how their business prospects stood for the coming year. Out of the total respondents, 79% claimed a positive outlook with 19% saying “excellent” and 60% saying “good.” Less than a quarter (21%) stated that their prospects were “fair.” No respondents felt that they would see a decrease in HVACR product sales.
Breaking down HVACR Sales Increases
Overall, 90% of respondents expected an increase in sales. Of the rest, 10% felt their business prospects would remain the same, and none felt there would be an actual decrease in HVACR product sales. The 90% who felt there would be an increase were fairly evenly divided between expecting a less than 5% increase (27%), a 5%-10% increase (31%), and an increase of over 10% (32%). This was also a more positive response over last year’s survey, in which 86% of respondents predicted an increase and 3% predicted a decrease.
Among the industries with the most promising growth outlooks were hospitals and healthcare (72% increase in HVACR sales), light (small-scale) commercial (63%), data and telecom centers (59%), heavy commercial (58%), office buildings (53%), and industrial manufacturing (53%).
Impact on the HVACR Industry and HVACR Technicians
Some of the top factors that customers prioritized were initial costs, reliability, energy efficiency, and sustainability. Additionally, some of the most frequently mentioned trends were “energy efficiency” and “sustainability.” In response to consumer preferences and demand, more manufacturers (54% of respondents) plan to begin introducing more energy efficient products. These products will be designed to reduce energy consumption, which will also lower the consumer’s carbon footprint.
As new products emerge and more homeowners and building managers seek the most cost-effective and energy efficient HVACR solutions, they’ll be expecting their HVACR technicians to know what products will give them the best value for long-term use and sustainability. As industry trends continue to favor sustainability practices, HVACR technicians will have to become more knowledgeable in that area to match client demands.
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The Refrigeration School features courses to teach aspiring HVACR professionals the fundamentals of solar and solar panel installation training to better prepare students to enter the current green-minded market. For more information about RSI HVACR technician training, contact an admissions advisor.